KB Insurance Co. Ltd. plans to raise 170.63 billion won in proceeds for operations through the issuance of 6.5 million shares to parent KB Financial Group Inc., Reuters reported Dec. 28, citing a Korean-language document.

The shares will be issued in a private placement at an issue price of 26,250 won per share.

As of Dec. 28, US$1 was equivalent to 1,213.06 South Korean won.